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The biggest and most often referenced name amongst successful Muslim businessmen/women in India is that of Azim Hashim Premji, Chairman & CEO of one of the largest software companies in India, Wipro Technologies.
Mr. Premji is today one of the richest Indians with an estimated worth of $17 billion (according to Forbes magazine) which he amassed as a true entrepreneur -- turning his family’s small vegetable oil business into a global IT powerhouse.
Mr. Azim Premji however is not an exception. Indian Muslims are at the helm of many national and global enterprises concentrated around pharmaceuticals, construction, media, technology, food, shipping and leather industries. |
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Mr. Yusuf Hamied leads the second largest pharmaceutical firm in India named Cipla Pharmacueticals which boasts strong R&D and global presence deriving annual revenues of US $760 million (2006). Another major pharmaceutical and biotechnology company is Wokhardt, led by Habil Khorakiwala and family. The Company has a market capitalization of over US$ 1 billion and an annual turnover of US$ 650 million. Similarly, Himalaya Healthcare and Shahnaz Herbals are global players in herbal medicine and services.
Even within India, some of its nationally recognized businesses are Muslim led as well. Two such examples are Bangalore based construction house Prestige Group led by Mr. Razack Sattar and Mumbai based Lokhandwala Construction led by Mr. Siraj Lokhandwala. Both have built quality reputations and are benefiting from the real estate boom in India.
Similarly, other large businesses led by Muslims span the food, media, leather & tanning, logistics, and software industries such as the Allana Group, Mid-Day Multimedia, Mirza Tanners, Patel Roadways, and Cranes Software. (see list below)
In addition, the Indian Muslim diaspora has also fared well in many countries. The most prominent of these examples is the Dubai based $4 billion diversified business group ETA-ASCON which is engaged in construction and shipping and manufacturing and is led by Mr. Syed M. Salahuddin. Mr. Salahuddin is an example of the many South Indian Muslims who have established large enterprises in the Gulf countries.
Meanwhile, Kumpulan Barakath is one of the largest food services companies based in Malaysia and run by Tamil speaking Indian Muslims where many are also known for their leadership in the shipping industry. In the western hemisphere, Sir Gulam Noon of Noon Products based in the UK has built a successful business and has made a name for himself as “the curry king of UK” for his ethnic food products and services.
These are just some of the prominent examples of successful business operations being run and managed by Muslims of India. Weighing this success against the dismal state of many Indian Muslims as painted by the Sachar Report and the diversity and huge size of this market, we can certainly ascertain the tremendous opportunities this large population segment presents.
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